ECB says Cyprus must act carefully over NPL plans

Government must also take care over treatment of assets of collapsed bank, ECB cautions

Central Bank of Cyprus, Nicosia
The Central Bank of Cyprus
Photo: TourinNicosia/Wikimedia Commons

The government of Cyprus needs to make serious changes to its plans to help some distressed debtors, the European Central Bank said.

ECB staff visited Cyprus as part of a joint mission with staff from the International Monetary Fund, the European Commission and the European Stability Mechanism. The four institutions all oversaw the bailout of Cyprus’s financial system after the crisis of 2012–13.

In its latest statement on Cyprus, published on September 28, the ECB issued a caution over Cyprus

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